More About Residual Income In Switzerland - Passive Residual Income
There are many different strategies to generate residual income across a huge variety of businesses. It might be recurring income by the very same clients or the earnings of a product to new clients. It may necessitate no personal involvement whatsoever, like an e-book sold on a web site, or it may need some personal interaction, such as the insurance agent calling the customer to remind them about their renewal.
Note that this is different from recurring income which may still require your involvement to earn the income. For example, a mentor or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board has recurring income, but it comes from recurring work which restricts on your earning ability based on your own personal production ability. .
This frees the work of other folks to create income for you. Some examples of leveraged income include:
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An e-book author selling her e-book through affiliates that promote the product.A network marketer who builds a downline and receives commissions on the sales generated by people in his downline.A general contractor who makes a profit margin on the job done by subcontractors.Franchising your business model into other entrepreneurs (the ultimate leveraged income). .
Again, there are many different versions in many different businesses. The key is that you are making money off of other people's labour, rather than mainly your own. Note that leveraged income may or may not also be residual income. When you combine them, that's even better.
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This type of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:
Though these require your direct participation, your earning potential is much greater than if someone was paying you an immediate hourly rate. Fill a room with 1,000 people paying $50 each and you can pay for your facility price, promotional price, and staffing prices and have a nice chunk of change left over. .
In the wise ideas like an online path to the dress-me-in-the-white-jacket ideas like writing articles for adsense, Ive thought about pretty much every passive income stream there is.
During this time the one thing I wanted more than anything else, was a big fat epic record of ALL the possible passive income streams there were.
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Unfortunately no one has even until this day made a complete list. I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income flow from my mind, my notes and the world wide interwebs!
PS if you want to cut to the chase you can get access to 3 of my preferred passive income thoughts right here or you can check out 30 of my beloved real-life passive income businesses here.
Ie first you need to haul ass and do something mad, eg compose a quality 20,000 word blossom (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your own iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional work.
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As you can see passive income streams simply come from resources, and assets are either bought with money (eg rental property) or even in the case of most of the hop over to these guys ideas under, purchased through perspiration (eg ebook)!
Who doesnt enjoy some down and dirty affiliate fees! Especially in the event that you realize it can be even simpler to make money this way than using an ebook. After all, you merely need to concentrate on pumping out some content to your own site and getting the traffic in, often via Google or societal websites. Unsurprisingly, the majority of people can enjoy their first affiliate sale within 30 days of starting a site. Continue reading .
If you told me a few years ago that this would end up being my #1 source of passive income, I'd have slapped you silly and called the men in white jackets to take you away! And thats because back then selling goods online was insanely complex and time consuming. Pretty much as non-passive as a business receives. .